GenFed offers loan protection options to give you and your family peace of mind.

Vehicles lose value as soon as you drive them off the sales lot. That means if your new car is totaled or stolen, your insurance company might not cover your entire loss. Insurance companies cover the value of your car, not the amount you still owe on your loan.

Guaranteed Auto Protection (GAP) insurance:

  • Helps you pay off your remaining loan balance after the deductible.
  • Allows you to clear your credit.
  • Makes it easier to start fresh with a new vehicle purchase.
  • Is inexpensive and can be included in your monthly payment.

Our Ohio members also have the option to choose GAP Plus, which offers the additional benefit of a $1,000 deductible toward your next GenFed vehicle loan if financed within 90 days of your GAP claim settlement.

Call or visit your local branch to learn more!

Protect yourself from expensive mechanical breakdowns for less than the extended warranties offered by most auto dealers! Mechanical repair coverage from GenFed protects you from unexpected high repair costs.

You’ll have the option to choose from 4 levels of repair coverage.

All coverage plans include:

  • Ordinary wear and tear coverage
  • Roadside assistance
  • Rental car reimbursement
  • Only one deductible per visit

Call or visit your local branch to learn more!

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When you take out a loan or open a credit card, you have every intention of making the payments. But what happens to those payments if something happens to you? Most types of insurance coverage protect your everyday expenses, but not your loan balances.

MEMBER’S CHOICE® credit life and credit disability insurance from GenFed covers your loan payments in the event of a disabling illness, injury, or death.

Credit life reduces or pays off your eligible loan balance if you die from a covered accident or illness before your loan is paid off.

Credit disability makes your monthly loan payments if you are unable to work due to a covered illness or injury. The payments continue until you return to work, pay off your loan, or reach the policy maximum.

You can include this protection in your loan amount or with your credit card. There are no physical exams or complicated forms required.

Credit Card Insurance Application (PDF)

Call or visit your local branch to learn more!

Our Co-op Advantage program rewards you based on your total amount of deposit and loan balances with GenFed. Learn more.